There is a difference between: Worksheet and Balance Sheet
A balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time, showing assets, liabilities, and shareholders' equity. It is a formal report prepared by accountants for external stakeholders. On the other hand, a worksheet is an internal document used by accountants to organize and record adjusting entries and prepare financial statements. It is a tool to facilitate the preparation of financial statements and is not typically shared with external parties.
You can create a balance sheet on one worksheet.
There is no difference between Contingent Liability and Off Balance Sheet Liability.
In off-balance sheet financing assets are not shown in balance sheet while in balance sheet financing fixed assets shown in balance sheet.
Yes in merchandiser balance sheet there is stock of items available in balance sheet while in services balance sheet there is no inventory item available.
In partnership balance sheet capital of all partners is shown while in corporate balance sheet capital of all share holders is shown.
sales and expenses
worksheet is single sheet of excel whereas number of worksheets come together as per requrements to form a workbook.
A worksheet is a collection of data on a page, organized in cells (e.g. table). A chart is the graphical representation of data in a particular format (e.g. pie chart, bar chart, etc.). Usually a chart is drawn based on a range of data from the worksheet.
sales and expenses
The work sheet does not show the ending balance in the owner's manual.
Provisional balance sheets are used by companies to prepare for financial audits. An estimated balance sheet is used by companies to show projected growth for investors.